Survey: Many Americans believe retirement myths
A survey of over 1,200 American adults with at least one
retirement account but who had not yet retired revealed that many still believe
in certain myths about retirement, such as half of respondents believing that
savings of up to five times their salary is enough to retire comfortably,
Business Insider reports. The Fidelity Investments poll also found around 25%
of Americans think they will be able to withdraw 10% to 15% of their savings
annually in retirement, 72% believe there are more years of negative returns in
the stock market than positive ones in the past 35 years, and 37% think they
will only spend up to $100,000 as a couple on health care when they retire.
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